NYSE Euronext and Nasdaq OMX Group – the corporate parents of the America’s biggest stock exchanges – headed to Capitol Hill this week to lobby regulators about a nefarious-sounding phenomenon spreading across Wall Street called “dark pools,” according to Bloomberg News.
There’s certainly no love lost between the New York Stock Exchange and Nasdaq, as these exchanges are bitter rivals competing over an ever-shrinking body of IPOs and order flow. So what are these dark pools, and why are they so threatening as to cause two foes to join forces?
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